Monday, January 27, 2020

Fashion industry

Fashion industry INTRODUCTION The fashion industry today is a very complex network. We have the marketing research people, who research the needs of the consumers, then we have the designers who design the garments, we also have the manufacturers who produce the garments and we have the distributors and retailers who sell the products to the consumers. The end consumer behavior is always changing and it getting very hard to determine what the consumer wants. To be able to deliver the right product, at right place, right quantity, and right quality to the right customers is becoming more and more challenging. Eventually all the finished products have to reach the ultimate consumers and here the role and responsibility of the retailers has become more vital [1]. Retailing is the process of buying and selling goods to the ultimate consumers. Over the last couple of decades the retailing has undergone drastic changes. Especially in the 1980s the departmental stores faced difficulties with the merger mania. During thi s period we have seen the emergence of different kinds of retailers such as discounters, chain organizations and hypermarkets. With the changes of trends and the shopping experience of the consumers, the trends in retailing have been changes after all the retail business is itself built on change [2]. Today the retailing process has moved from the traditional ways to more and more modern ways. The present retailers can be classified into the following ways: Retail branch companies Voluntary multiple chains Integrated wholesalers Franchise Department stores Mail orders/Internet Outlets Independent shops Boutiques / Concept stores. Each of the above listed retailers has their own uniqueness. In particular the boutique concept has got a very long history. Boutique is a term originated from French which means little shop[1]. It all started with the Paris couture houses which allowed the customers to buy perfumes and accessories. The Boutique has emerged on the United States, United Kingdom, Italy, Germany etc. with different themes. Over the time the boutique concept has moved to a highly individualized and specialized merchandise intended to a well defined and a narrow range of customers. In the late 1990s some of the European retailers expanded the boutique concept to a life style theme. These boutiques were termed as ‘concept stores and were specialized in cross-selling of different products under one roof without the use of separate departments [3]. These concept stores featured products ranging from very high prices to moderate prices dealing in only designer clothes and/or hand crafted fashions and/or trendy accessories and/or antique clothing [1]. The concept stores mostly carry products of different mix of brands and products [4]. These stores are facilitating partnerships to enable the concept, thereby securing in terms of total buying. Intention is to approach edges with the aim of creating â€Å"concept stores†. Concept stores idea would rather be the operation related to elite and highly specialized class. Below is the image of the Kisan concept store in the New York City [5]. But now a day this concept has been applied to the normally mass market highly expensive items which are intentionally made at small number to keep the uniqueness of the product. Today the concept stores run with a specific consumer in mind and having the different brands product in it which could be apparel ranges, books collections, jewelry, fragrances, furniture etc. The concept is exclusively (but not primarily) while it urges to the relationship between the customers and products quality. One of the first concept stores to open was ‘10 Corso Como in Milan, Italy. This was followed by ‘Colette in Paris, ‘Quartier 206 in Berlin. The concept of ‘concept store has not only confined to the fashion industry but has also moved to electronics with brands such as Apple, Dell, Microsoft etc. opening their concept store to showcase their latest innovative products. The concept of a concept store is very complicated and as mentioned above has been changing over time. The concept of these stores is also quite different in different locations. Hence there is always a discussion about the future trends of the concept stores. This paper is an attempt to discuss the solutions to such questions which are listed below: What is the concept of a concept store? What are the products and services offered in a concept store? How will be the customer experience in such concept stores? 1. METHODOLOGY The purpose of this report is to study the concept of a concept store. This can be possible only when a practical case has been studied. The aim here is present a practical case which can be well supported with theoretical studies from various literatures and sources. Hence Storm Fashion, a concept store in Copenhagen, Denmark was selected and a thorough study was carried out. The information about Storm Fashion was collected from various electronic sources. In addition to this the Storm store was visited and the owner Mr. Rasmus Storm was interviewed. Further, the customers of Storm Fashion were asked for their opinion and share their experiences. 2. STORM FASHION: Copenhagen city has lot to offer for fashion industry, though it is not considered to be among biggies such as Paris, Milan, London or New York. Copenhagen has got a lot of potential and this has been proved by the fact that several Danish designers have been employed permanently by international fashion houses [6]. Seeing the potential for the luxurious market several brands such as Prada, Max Mara, Chanel, Hermà ©s and Louis Vuitton, Gucci etc have opened their stores in the posh localities of Copenhagen. Today Copenhagen has established itself as a fashion metropolis of the northern Europe with several internal brands and concept store. This potential for luxurious and unique products was discovered by Mr. Rasmus Storm and with this boost he opened the Storm concept store in the year 1994 at Elmegade, the North Bridge, Copenhagen. In the year 2001 the store was shifted to St. Regnegade in the central of the Copenhagen city. The aim of Mr. Rasmus Storm was to provide world class unique products to his customers. Soon the Storm store was one of the most recognized and trend setting concept stores. It was one of the first stores to accommodate world class brands such as Thom Browne, Dries van Noten, Ralph Lauren, Comme des Garcons, Raf Simons, Chloà ©, Ann Demeulemeester og Haider Ackermann. He not only confined his store for only fashion products but also extended it wide selection of products such as beauty products, photography, DVD movies, music and books on art and fashion [7]. The storm store hold the products ranging from leading Danish and international designer brands, like several of them on often found in Copenhagen. Due to its uniqueness and its popularity Storm store has received the Danish Fashion Award for best retail space was given to Storm in spring 2008. Most of the products displayed in the Storm store are handpicked by Mr. Rasmus Storm who travels all over the world for the best and unique products [8]. The most important thing for the selection of products is networking where different designers and artists are met for inspiration. Below the products offered in the Storm store have be briefly described. 3.1 Mens clothes The clothing line has the designer touch of a classic, archetypal school quality in a simple and marked by seriousness, gravity, solemnity. The Store has leading brands such as Dior Homme, Burberry Prorsum, Dries van Noten, Gitman vintage, Junya Watanabes, Visvim etc. The collection is seasonal and also contains selected shoes and boots of brands such as Ring Wing, The original boat boots etc. Some of the products are show below 3.2 Womens clothes We can see the delicious classic touch like French Chloà © in the Womens clothing. The collection includes the delicate and special things belong to the exciting Belgian designer Haider Ackermann Colombian, Ann Demeulemeester Parisian misc/fashion duo Kitsunà ©, Swedish Burglar etc. Some of the products are shown below [7]: 3.4 Skincare and Magazines: Storm has and is always in touch with the latest updates from fashion and design world. Storm has books and magazines of Fantastic Man, Knick Knight, Nils Stà ¦rk, Stephen Sprouse, Albert Watson, Camouflage etc. Storm also offers pure skincare, hair care products from Bumble Bumble, Dover Street market, Mayday Mayday etc [7]. 3.5 Accessories: Storm also offers wide range of product for both men and women in the form of fragrances, eye wear, bags, lighters, sneakers, candles, watches etc. Storm offers very unique products such as Zippo X Ambush lighter (available in only 2 retailers in Europe), Mismo X Storm, Fat Cat Stuff X Storm etc [7]. 3.6 Store Appearance: The Storm store was designed by Leif Jà ¸rgensen from LLLP and he tried to combine the feminine and the masculine themes combined with the use of materials like glass and wood prominence. The central focus was to keep the store very clean with simple colors such as white, wood and black so the focus is on the clothing, other products and not the store itself. The interiors of the storm store can be seen below 3. ANALYSIS A SWOT analysis was done to analyze different factors that influence the performance of the Storm concept store. 4.1 Strengths One of the main strengths of Storm stores is its ability to showcase products which are unique and very diverse. With this uniqueness and diversity, the Storm store has earned an image which has earned its own individuality. Storm store does not seem to be like any other store but has its own unique identity and reputation. Another important strength of the Storm store is its leadership in the form of Mr. Rasmus Storm who has a great passion and vision. Mr. Storm is always travelling all over the world in search of new designers, artists and products [8]. The best example is the Zippo X Ambush lighter which Mr. Storm brought from Japan. Another strength of Storm store is products that are amalgam of soft and elegance touch. The store presence is also one of the driving forces for the customers to come in. Especially the interiors which are very clean and do not steal the focus from the products displayed. Another strength of the Storm store is the customer experience with a good rece ption. The stores personal is very warm and are always helpful in finding the right products for the customers [10]. 4.2 Weakness One of the main weaknesses of the Storm store is its webpage which is very limited with the information, products classification etc unlike the French concept store Colette which has got a very good webpage. A lot more can be done with the webpage as most of the customers today are tending towards the web experience of anything. The webpage also does not have the web shopping which is very unusual for a store like Storm. The webpage does not even keep the database of the customers and the customer choices which need to be addressed. Another weakness which was inferred from the customers is that the products sold are way too expensive [10]. Although Storm was established in the year 1994, it still has only one store. Keeping in mind its popularity and uniqueness, the Store can be expanded to other locations. The Storm store does not carry products from leading brands like Chanel, Prada, Gucci etc which it used carry a few years ago. 4.3 Opportunities Storm fashion has got a very good reputation not only in Denmark but also in Sweden, Norway, Germany etc. Even though it was established 15 years ago it has its presence in Copenhagen city only and has got a great potential to expand into other cities. Hence the store may be expanded into other locations such as Stockholm, Paris, Berlin etc. The webpage can be modified to accommodate feature such a product classification, virtual wardrobe, web shopping etc. Although the products offered at the Storm store are much diversified but there is still room for more diversification. This can be further explored. Storm Fashion is very high-end targeteting people with quite a lot of money, it would be nice if they had some less expensive stuff but still kept their profile as being exclusive and nice [10]. The Storm store can also focus on a few customers catering their choices and tastes and offer some very exclusive products accordingly. 4.4 Threats One of the main threats for the Storm store is the emergence of new concept stores in the Copenhagen city which tend to maintain the same exclusivity. A best example is Wood Wood store which is in the near proximity of the Storm store. Another common weakness is the counterfeit products. Although Storm offers very exclusive products, getting a counterfeit product is becoming very easy these days. The Economic crisis has also played its part in the Storms growth rate. Especially the fluctuating currency exchange rate of the Danish-Swedish kronor has decrease the customer buying from Sweden. Due to this Storm has been lost almost 15% of its revenues for the past couple of years [8]. 4.5 Key Success Factors Some of the key success factors of Storm have been listed in the table below: Key Success Factors LOW HIGH 1 2 3 4 5 Brand Value Product Range Advertisement Consumer Experience Web experience Leadership Price Range Growth rate In most of the cases the well designed strategic plan has the potential to integrate the performance of company. But low thoughts are given to implementing, accountability and executing for the success of business, while there are many factors which can be present as the key success factors for any business or for products. Based on the above discussion we can simply sum up the idea that the Storm store has a very good brand identity as compare to the other concept stores in Denmark. This is due to the product range they offer to their valuable customers, they have very reliable products which are decorated according to the consumers taste. Also Mr. Rasmus Storm kept this in such a great leadership that his store is now one of the famous concept store in Scandinavia and it has also won the best concept stores award in Denmark in the year 2008.The factor behind this victory is the uniqueness and product range but although they have unique stuff but with very high price that could be t he one the point which could go in the opposite way. Another portal where they are lacking is their web experience for their customers and same shadow covers the advertisement media. They must go for the new web features and easy customers interface portals to remain on the hype in this recession time. 4. CONCLUSIONS RECOMMENDATIONS: The Storm store has been very successful and there is still a lot more room for growth both in terms of sales and presence. To do so, there are some issues that have to be dealt with. 5.1 Web Experience: The webpage of Storm store is not very exciting when compared to its counterparts. Hence a lot more can be done to improve it. The first and the foremost things that should be done is the inclusion of the product catalogue which could classify the products into different categories. This will make the customer to search for the product he is looking directly without wasting lot of time. The other thing that can be done is the introduction of web shopping. Web Shopping is a process where the customer can log on to the web page and select his products and do the payment online, and then the products will be delivery to the location mentioned by the customer [11]. The web shopping business is growing very rapidly, a very good example for this the www.youheshe.com which is doing very good business. The web shopping can not only make people buy the products from their homes but also will allow the sale of products to the customers who cannot access the Storm store (Demographic advantage). The web shopping will also allow the customers to buy the products at whatever time they like irrespective of the store opening or closing times. Another significant thing that can be done is maintain the customer database. The success of business can be measured by the relationship with the customers, therefore the information technology systems have designed the online plate through with customers feedback and demands can be observed by day to day basis on growing in popularity. (CRM) Customer relationship management is not just a web application developed, but its an approach to know about the customers behaviors and their needs in term of creating the stronger relationships with them [12]. In other means we can use this CRM to interact with customers in effectively and efficiently manner. Nevertheless, successful CRM relies on the use of adequate technology. If this is considered for the Storm store, it can be implemented in the webpage which will allow tracking the customers choices and feedback. We will get the details regarding the customers choices, taste, mood and their buying capability so we can merge the collected data and get the better results. Once the customer login to the website and search for their products, it will enable the store to offer the customers with their preferred choices based upon their previous online behavior. This will obviously save the customers precious time and they dont have to search for whole products ranges while on the other hand customer will not get irritate by not struggling for the products they need. Using the internet and the CRM application we can also introduce a concept that has the potential of being the next big thing. Its called the ‘virtual wardrobe and if this works out it can very well be the competitive advantage over the internet for fashion brands seeking to increase their market base while at the same time keeping the exclusivity factor real [13]. This virtual wardrobe perfectly fits into the concept of the Storm store. The virtual wardrobe shall include the concept of keeping an online wardrobe of all the items that a customer has bought over the internet so that when a customer goes to buy a new product he/she goes into their online wardrobe and sorts through the items there to see which ones they have already bought so that they can choose another product that is according to their choice after seeing their wardrobe [14]. This way a customer online profile is made based on the choices that they have made of their clothes which can then be interpreted by pro filers of the brand to assess the characteristic of their client. This concept has a lot of potential in that it can seek to identify the personality of the customer based on their choices and from there the brands. This can also be used as a tool for gauging the loyalty of a customer according to the number of items that are present in the wardrobe. Customer satisfaction surveys can relate to the experience that the customer had when using this web application. The possibilities are endless. Its just a matter of using ones imagination. 5.2 Expansion Diversification: The Storm store has a great potential for expansion geographically. Given the required financial assistance, the Storm store can be expanded to other markets such as Stockholm, Paris, Berlin, and New York etc. The product line can also be diversified by collaborations with different artists and designers. It can collaborate with designers and artists from countries like India which is home for various culture, world class craftsmanship, music, literature etc. 5.3 Marketing: Marketing as a science requires a number of qualities that are an essential and integral to the success of the organization. Although marketing nowadays is a very broad term yet there are some aspects of marketing that are not taking a more interactive role with the consumer. Marketing does not mean spending a huge amount of money on advertising. There are many cost efficient ways of marketing. One of such way of marketing is the viral marketing. Viral marketing, as the name implies is word of mouth marketing where a group of people are told about a certain product, service, store etc and those people spread those words to different people there by creating a chain reaction. This will allow that product, services, store to become more popular. Viral marketing can be done in many ways and is influenced by many factors. The best way of spreading the good will is by shear customer experience. Once the customers come to a store and finds what they is looking for, then obviously they woul d recommend the store to their friends. This would make others interested in the store there by increasing the customer flow and sales. Other easy way of marketing the Storm store is with the help of Social Networking Sites such as Facebook, Twitter, MySpace, Orkut etc. A profile of the Storm store can be created in these sites and information regarding the new arrivals, discounts etc can be updated regularly. This will also allow the customers to write about their experiences, suggestions, feedbacks etc. This medium can also be used to meet the customers and know about their opinions. The Storm can even create a customer club where it can arrange different activities such as exhibitions, parties etc. This will keep the customers more loyal builds up a good trust towards the store. The Storm store which started off as a small store is now very popular among its customers because of its unique identity. This identity has helped it to become one of the well noted stores in the northern Europe. The leadership of Mr. Rasmus Storm has played a major role in the transformation of the store into a world class one. By implementing the above suggestion, the store and its identity can reach a larger customers and locations there by increasing the revenue and the brand identity.

Sunday, January 19, 2020

The First Amendment Essay -- Bill Rights Constitution Government USA E

The First Amendment America was built on freedom. Freedom to speak, freedom to choose, freedom to worship, and freedom to do just about anything you want within the law. America’s law was designed to protect and preserve these freedoms. The reason the United States of America came to exist was because the colonists fled Great Britain to get back the freedoms that were taken away from them by the Monarchy. In countries where Monarchies and Dictatorships rule, there is little if any freedom to speak of. Citizens of these countries are persecuted or even killed if they attempt to exercise any of the basic freedoms. In these countries there is no free speech, no right to choose government, no right to express religion, no right to own property. This is why I believe the first amendment in the Bill of Rights under the Constitution is the most important amendment. The First Amendment clearly voices a great American respect toward the freedom of religion. It also prevents the government from "abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble and to petition the Government for a redress of grievances." Since the early history of our country, the protection of basic freedoms has been of the utmost importance to Americans. The American voice on freedom has been shaped throughout the course of history by the initial democratic notions of the immigrants to the same desire for greater freedom that we have today. Ever since colon...

Saturday, January 11, 2020

The Use of Phi, Golden Numbers and Fibonacci Numbers in Architecture from Antiquity

MT Chapter2: The usage of Phi, Golden Numbers and Fibonacci Numbers in Architecture from Antiquity This chapter will look at the history and application of usage, throughout Ancient Times, of the Golden Numbers, such as Phi, the Fibonacci Sequence. It will analyze the different topographic points that they were used, by the ancients and their grounds for utilizing these mathematical systems. Doczi, 1981, examines the significance of Golden Numbers to different peoples throughout history. He pays specific attending to Proportional Harmonies, within architecture. reference1a In Wiltshire, England, around an estimated YEARSAGO, SH mention an astoundingly unbelievable memorial was built. Believed to be a calendar, of kinds ; a topographic point of religious and spiritual significance ; or perchance a compass, this construction possesses geometry affecting Golden Numbers excessively. reference1a One of the other first recorded utilizations, of these peculiar figure systems, can be traced back to the early yearss of Freemasonry and the architecture of their Masonic Temple, in PLACE. The Freemasons call themselves a Brotherhood ; and Masonic Halls and Lodges can be found all over the universe. On a corner rock of the Masonic Hall in Halifax, Canada, it can be seen that two different day of the months are inscribed upon one of the corner-stones. These two day of the months, 1875, and 5875, seem to propose that the Masons believe that their society dates back every bit far as 4000bce. reference1 In Manly P. Hall, 1973, he discusses the evident likely-hood that the Ancient Egyptians had the most knowledge about the scientific disciplines of nature. Hall goes on to state us that Steinmetz, 1976, provinces: â€Å" Regardless of the beginning of the modern Lodge, or of the name â€Å" Freemason, † we can, after liberating the symbolism of modern versions, discern in Freemasonry the lineation of the instructions of the ancient enigmas of Egypt. † mention Manly P. Hall Freemasonry of the Ancient Egyptians A statement by Past Provincial Grand Registrar, W.L. Wilmshurst in â€Å" The Meaning of Masonry † , 1922, reads: â€Å" I am acquainted, for case, with an Egyptian ceremony system, some 5,000 old ages old, which taught exactly the same things as Masonry does, †¦ † cite The Meaning of Masonry, by Past Provincial Grand Registrar, W.L. Wilmshurst This shows us that Freemasonry was a portion of Ancient Egyptian civilization and besides shows that these accomplishments and â€Å" Secret Knowledge † have been passed down from ascendants, 1000s of old ages ago. Investigating Steinmetz, shows us that the Masons are taught that their secret-knowledge has been passed down by generation-after-generation of their brotherhood ‘s members since the clip of the, legendary as yet unfound sunken, metropolis of Atlantis. mention Freemasonry Its Hidden Meaning, by George H. Steinmetz Arpat, 2004, discusses the usage of these Golden Numbers and sequences in architecture throughout both the Islamic, Ottoman and Christian Empires. Besides he draws loop to the fact that the really same rules and techniques are still used in architecture today. reference1 In 1861 a certain Mr. William Preston, past maestro of the Lodge of Antiquity, wrote â€Å" Instruction manuals of Masonry † . In this book he draws attending to the significance and significance of geometry, to the George masons: â€Å" Geometry or Masonry originally synonymous footings, is of a Godhead and moral nature and enriched with the most utile cognition: whilst is proves the fantastic belongingss of nature, it demonstrates the more of import truth of morality. † reference2 This grounds shows that geometry and the Golden Numbers are per se linked with spiritualty, faith and morality, for many different civilizations. Today, the Masons continue to up-hold their belief that the architectural techniques and methods that they teach to their Members should be kept as a reverent secret from the general populace. It is no accident that their most important and recognizable insignia has a missive â€Å" G † as its cardinal characteristic. It can be seen that a capital â€Å" G † has a similar form as the Fibonacci Spiral. reference1 A really old book, Leader Scott ‘s 1899 issue of â€Å" The Cathedral Builders † , clarifies portion of the ground that the Freemasons had such an influential consequence upon the edifice of churches, throughout history. He describes how a peculiar group of people known as â€Å" Liberi Muratori † , who lived near Como, Italy around 643ce were formed. Once this cabal began to turn in Numberss, they were sent out, across the universe, to learn, construct and enroll new members. They shortly became a big and organized society of designers, sculpturers, and professionals of humanistic disciplines and trades. This proliferation of their joint cognition bled into every group of society that they came upon. Scott goes on to depict that there were edicts from the Catholic Church, in Rome, to protect any members of the Freemasons ‘ Brotherhood, in any Catholic state that they might be in. These apostolic bulls besides allowed the Masons to work, without competition from local rivals, in their several field of expertness. This left control of architecture design, of churches, entirely to the Masons who ever followed the set forms, rules, and sequences which were laid down before them, by their hereditary Mason brothers. mention â€Å" The Cathedral Builders † Further grounds of important geometric forms can be found in Islamic Mosques, all over the universe. One of the most notable illustrations of this is the Hagia Sophia in Istanbul. This monumental construction was built, between 532ce – 537ce, in what was so known as Constantinople. Byzantine Emperor, Justinian the Great commissioned Anthemius of Tralles and the Elder Isidore of Miletus, who hailed from Western Anatolia, to construct this construction as a Church. reference1 These two figures were non known as designers, instead, Isidore was referred to as a Professor of Geometry and Mechanics, whilst Anthemius was thought of as a Mathematician and a Physicist. The common term that was used for their place, as builders of this memorial, was â€Å" mechanikoi † . hypertext transfer protocol: //www.hagiasophia.com/listingview.php? listingID=6 Anthemius was left to plan and bring forth the architectural drawings of this church, whilst Isidorus was in charge of the existent building of the edifice. It is interesting to observe that although the Hagia Sophia was built as a church, in the sixth century Ce, today it is used as a museum, but for about five hundred old ages, after the Ottoman Empire conquered Constantinople, it served as a mosque, for the so Islamic officeholders. The Faculty of Architecture of the Technical University of Istanbul holds a papers drawn up by a Azinasi BaAYeAYmez, in which he includes exact programs of the Hagia Sophia. With the aid of his helper, Ahmet Alptekin, he was able to detect that Phi had been explicitly used through-out the whole design of the Hagia Sophia. reference1 The figure below, shows an illustration of these geometrical forms, which have been used, in the interior infinite of the Hagia Sophia. Diagram1 This illustration of ancient architecture demonstrates the usage of Golden Numbers, within edifice building, absolutely. Another first-class illustration of this is the Mosque of Rum Mehmet PaAYa. This sacredly important construction is besides found in Istanbul. Constructed around 1471ce the Grecian builder besides appears to hold used the same unit of length, as was used in the design and building of the Haga Sophia. This â€Å" Byzantine Foot † would now, in today ‘s universe, be seen as being 31.23centimetres long. It was divided into 16 â€Å" Fingers † and a metallic rod of this length, believed to hold been used by Azinasi BaAYeAYmez, and besides before him the Ottomans, has been preserved in the TopkapA ± Museum of Istanbul. Arpat, 2004, describes how with his helper, he measured the precise dimensions of the Mosque of Rum Mehmet PaAYas ‘ exterior breadth of the Mosque ( without porch ) , the thickness of the walls, the doors and the country around the main-entrance. With these measurings he was able to demo that, one time once more, the Golden Ratio and the Fibonacci Spiral had been major factors involved with bring forthing the architecture of the full edifice. reference1 Diagrams2 In Greece itself, the most good known edifice in Athens is the Parthenon. This testament to the inventiveness of the Ancient Greeks is yet another illustration of where the Golden Ratio is used repeatedly, in about all facets of its design. Built around 440ce, Pythagorean Geometry, every bit good as the Fibonacci Sequence can be seen to hold been utilised in the nucleus of its architectural design. reference4 Feuilles de Delphes, Topografi et Architecture Releves et Restaurations par K. Gottlob, Paris 1925, holds the ground-plans for the Parthenon, Rodos discusses these programs in his book, The Secret of Ancient Geometry and its Use ( Vol. 2, 1967 ) analyses these programs and describes the prolific usage of these sequences, in the design of the Parthenon ‘s ground-plan. reference5 The front-facade of the Parthenon besides displays many charactistics, which use the Golden Ratio. The diagram below shows this: reference6 Diagram3 In England, Golden Numbers can be found in the architecture of many churches. One illustration of this is Vere Street Anglican Church, London. Built in 1721, architects AyAYe and Nigel Walding from Derby, fastidiously measured every dimension of the church. Arpat, in his 2004 book, sets down the process that AyAYe and Nigel would hold used to make this:Draw line AB = 636 † ( 1615.122cm )Pull a line AC = 4/3 tens ABPull a half circle around BC and a perpendicular from A until D.AD == 734.39 † ( =1865 centimeter ; Diff. 1cm )Pull a half circle A withR= AD until intersection E. AE = 734.39 †Extend AE by 1/5, grade point F.Pull a half circle around AF, grade intersection G ;EG == 328.429 † This is the breadth of the cardinal nave ( = 834.05cm )Divide the interior length in five equal subdivisions ; these are the breadth of the bays:734.392 / 5 = 146.878 † , mark point H.Halve the cardinal nave, grade point K ; HK = 164.215 †Extend HK by 5/7 tens HK, grade point L.Pull a half circle around LK and a perpendicular from H until intersection M.Draw an discharge around H withR= HM until intersection N.HN = HM = EG == 138.787 † ( = 352.75cm ) This is the breadth of the side naves. The interior breadth of the church is: 2 ten 138.787 † + 328.429 † = 606 † , as measured ( 1538.94cm ) reference1 The diagram below should be used as a mention for the instructions, quoted above.Diagram4 This subject of Christians utilizing Golden Numbers, in architecture, can besides be seen in St. Johannes Basilica, in Catholic Berlin, Germany. This illustration was built in 1897 by designer August Menken, who was besides involved with the building of some of the other of import churches, in Berlin. Once once more it is mostly in the land floor program, that the Fibonacci Sequence can be found. Diagram5 It can besides be shown that the radius of the handbill wall behind the communion table, and the relationship between the communion table, the columns and doors to the street, all involve the Golden Ratio. Diagram6 It is widely understood that architectural techniques have been passed down through coevalss, and dispersed through other civilizations, by trade paths as they appeared in the Middle Ages. Equally good as this, the spread of Freemasonry and other spiritual cabals has contributed greatly to the addition in similar methods of architecture, in different parts of the World. Originally, it seems that, the forms and designs used were created utilizing nature as inspiration. In the modern universe of scientific discipline we are able to more closely, and more accurately, examine nature ‘s artifacts, and it has been seen that these specific figure sequences ( like the Fibonacci Spiral ) can be found about everyplace. reference7 Knocks, H. and Arch, M. ( 2007 ) discourse the findings of the Ancient Greek Thinker, Plato. Plato describes different sets of proportions, stating: â€Å" the three-term proportion as indispensable cognition, the cognition through which the head is able to grok the universe. † reference8 Plato claimed that utilizing the methods to happen the mean of a three-term proportion, such as a/b = b/c, ( which is most normally used by designers ) , an apprehension of the Torahs that govern the creative activity of all things can be formed. A two-term proportion can be expressed as: As shown antecedently, in this papers, this is the Aureate Proportion. reference9 These Golden Numbers, sequences and forms are likely most noticeable in sacredly important edifices because big architectural undertakings have, more frequently than non, been commissioned by spiritual groups. Religions have, historically, possessed the largest sum of financess for such projects. It is common cognition that faiths have many secrets, in order to protect their cognition of the universe, they would merely let certain people to go toilet to facets, such as their architectural techniques and methods. Religion has ever been the pillar for the guidelines and regulations, of different societies. Taxes upon the general population, connected with a peculiar spiritual edifice, were common in yearss gone-by. Both in the signifier of offerings to divinities, and payments for ( as Christians might state ) â€Å" shepherding their flock † , goods, money and nutrient points were, and still are, normally given to these spiritual ‘benefactors ‘ . This is how the Church and other spiritual cultural leaders harnessed the largest sums of power and money, in whole lands and across continents. Ancient Grecian times seem to be an exclusion. It has been documented that here, most of the â€Å" Thinkers † , in Ancient Greece, focused their attendings upon mathematics and lay-down our first Torahs, instructions and regulations, which govern the universes of scientific discipline, technology and the existence. These early Mathematicians and Structural Engineers were largely taught at UNIVERSITY NAME, in Egypt, where they were able to analyze many edifices which were already 1000s of old ages old. reference10 Noteworthy Greek Thinker, and Mathematician, Pythagoras, was taught in many Egyptian Temples, like NameOfTemple. He was besides a Mason and so when he returned home, it was prohibited for him to relay the secret direction that he had been taught in Egypt, to anyone else. Pythagoras taught along different avenues of geometry and instructed â€Å" non-initiated Grecian pupils † in this new methodological analysis. reference11 Schwaller de Lubicz, in his 1981 publication, was able to animate the attack that Pythagoras used in using his geometric methods to architecture. These two tomes, The Temple of Man, discuss Pythagorean Theorems in great item, nevertheless they do non dig profoundly into the â€Å" Lost Knowledge of the Ancient Egyptians † it is necessary to analyze other resources to derive this information. mention â€Å" The Temple of Man † . It is widely recognised that the Christian Bible has been translated many times, from and into many different linguistic communications. Translations can seldom be exact and the significance of certain phrases is frequently lost during transition, from one linguistic communication into another. One illustration of this is at the beginning of the Gospel of St John, in the King James Version, 1611. This book, of the Bible, starts with the line: reference9 â€Å" In the beginning was the Word, and the Word was with God, and Word was God. † mention King James Bible, Gospel of Saint John As Knocks and Arch, 2007, explain: â€Å" The transcriber, working in the clip of King James, chose to utilizewordfor the Greek ‘logos ‘ .Sonsimplies an active rule and would be more accurately translated as ‘verb ‘ . What, so, is the word, or verb, of which St John has written? Harmonizing to the anthropocosmic apprehension, it can merely be the fantastic transforming power of Phi ( ? ¤ ) , the Golden Proportion. † reference9

Friday, January 3, 2020

Examining the disinvestment of psus in India - Free Essay Example

Sample details Pages: 6 Words: 1760 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? These days government is using disinvestment as strategic tool to raise capital. Money collected from disinvestment is used to fill the fiscal deficit and is used for other purposes. This is helping other poor performing PSUs to revive. Government made mandatory to float at least 10% in 2009. In 2010 government has again mandated to float 25 % shares of listed company for retail investors. Here we will see what is disinvestment, how it is done what are the steps government has taken to use this money. INTRODUCTION Disinvestment of PSU means the sale of public sector equity leading to a dilution of the governments stake. In India the term disinvestment is used rather than privatization. Privatization means change in ownership resulting into change in management while disinvestment may or may not result into a change of management. A well designed disinvestment program helps in the long term growth process through increased foreign investment, technology transfer and the subsequent enhancements in the productivity. Don’t waste time! Our writers will create an original "Examining the disinvestment of psus in India" essay for you Create order Public sector undertakings are organizations started by Indian government as government companies under the companies act or as statutory corporation under specific statutes of parliament. PSUs do not have autonomy as most of their decisions relating to capital expenditure, acquisitions and investments have to be approved by the Public Investment Board , Cabinet Committee on Economic Affairs and the central government. The control on PSUs is also exercised through the CAG, Central Vigilance Commission and the CBI. The public sector presence is predominant in public utilities and infrastructure, railways, post telegraph, ports, airports and power are dominated by PSUs or department-owned enterprises. In the roads sector, while some roads are owned and maintained by the private sector, publicly owned and maintained roads dominate. Road freight capacity is almost entirely private, while road passenger traffic capacity is also significantly privately owned and managed. In telecom, the public sector continues to be dominant in the provision of fixed line telephone services, while private licensees are operating in some urban areas. Mobile services are predominantly private, particularly in urban areas, while inter-state and international linking services are significantly privately managed and owned. There were 5 PSUs owned by the central government at the beginning of the first five year plan with a total investment of Rs.29 crore. By the end of the seventh plan in 1990, the number of PSUs had increased to 244 with a total investment of Rs.99,329 crore. Thereafter, though the capital invested increased to Rs.3,93,057 crore in 2005-06, the number of PSUs declined to 239. At present there are35 PSUs in the BSE 200 index with market capitalization of 3,84,000 crore. OBJECTIVE Disinvestment was flagged off in 1991 without any clear cut objectives. The stated objective was to raise resources to finance fiscal deficit. Policy on disinvestment arose largely through statement of finance ministers in their budget speeches. In the budget 1991-92, this was announced by the government that disinvestment upto 20 per cent of equity in selected PSUs in the favor of mutual fund and other financial institution in the public sector to increase the base in shareholding, improvement in management, increase availability of resource for these PSUs . In 2001, the government introduced a special provision for setting aside a quota for shares for small investors and workers. The government set out the following policies in respect of PSUs; bring down government shares in all non strategic PSUs to 26%. Initially in 1991-92 resorted to building operations wherein shares were offered only in bundles of good, very good, and average companies. This resulted in disinvestment at very low prices. The government then realized that framing proper strategies for disinvestment was essential. The government of India then set up a committee under the chairmanship of the former RBI governor, C.Rangrajan, in 1993. The committee identified following objectives as a part of its long-term strategy; 1). To strengthen PSUs, where appropriate in order to facilitate disinvestment 2). To protect employees interest 3). To broad base ownership 4). To augment receipts of the government. DISINVESTMENT MACHINERY From 1991-92, when it started and till 1996-97, disinvestment was handled by the Department of Public Enterprises and subsequently, from 1s t April, 1997 till 9th December, 1999, by the Department of Economic Affairs (Ministry of Finance). The Department of Disinvestment was started as a separate department on 10th December, 1999 and was subsequently renamed as Ministry of Disinvestment from 6th September, 2001. After 27th May, 2004, Department of Disinvestment is under the ministry of finance. Rangarajan Committee produced report in April 1993 and recommended the percentage of equity shares for disinvestment should be below 49 per cent in the industry reserved for public sector and more than 74 per cent in others industries. According to Industrial Policy of July, 1991 the following industries were proposed to the public sector: (1) Arms and ammunitions and allied item of defense equipments, defense aircrafts and warship. (2) Nuclear energy. (3) Coal and lignite. (4) Mineral oil. (5) Mining of iron, manganese, chrome, gypsum, sulphur, gold and diamond. (8) Railways DISINVESTMENT PROCEDURES The procedures followed for disinvestment have evolved over a period of time. These were based on decision-making through inter- ministerial consultations and involvement of professionals and experts, in view of the technical and complex nature of transactions and the need for transparency and fair play. The decision making process, the bidding procedure and the methods used for valuation of equity of PSUs sold are described below for the different modes of sales. Government has adopted following methods to sell off shares in PSUs. 1). Bidding 2). Sale of shares in the Market 3). Global Depository Receipts (GDR) route 4.) Cross-holdings 5). Strategic Sales 1). BIDDING In this method Government invites bid for a portion of its stake in PSUs. The Department of Public Enterprises invites closed bids from government financial institutions and mutual funds. The tendering process is driven by a reserve price based on valuation models such as net asset value, earning potential and previous realizations if available. The Government offered shares un bundles of very good, good, and average. The emphasis of the government in the initial years was on the disinvestment of the equity and retaining the controlling block. 2). SALE OF SHARES IN THE MARKET During 1991-99 shares of companies like IOC, BPCL, HPCL, GAIL, and VSNL were sold in the market. The shares of these blue chip companies were sold at price-earnings between 4.5 and 6.0. The offer of sale of shares in the primary market increases the public ownership in these PSUs through retail participation resulting in better price discovery, increasing the floating stock of the company and deepening the capital market. The IPO route is suitable during strong secondary market conditions. The wealth created through this can be shared equitably with public at large. However public issue does not result into change in management style and functioning of the companies. 3). GLOBAL DEPOSITORY RECEIPTS ROUTE The government decided to tap the overseas market for disinvestment due to sluggish capital market conditions. In, March 1997 VSNL disinvestment took place through the GDR issue which was priced at USD 13.93 and was oversubscribed 10 times. The disinvestment through domestic ADR or GDR market was not productive. 4.) CROSS-HOLDINGS Here one big PSU were told to hold the share of another big PSU. This was done mainly for cash rich oil companies. The swapping of shares within oil companies took place just before the close of 1998-99. This cross-holding of IOC buying 10 percent government stake in ONGC and 5 percent stake in GAIL, ONGC buying 10 percent in IOC and 5 percent in GAIL and GAIL buying 2.5 percent in ONGC helped the government gather 4,867 crore at the end of the year. 5). STRATEGIC SALES Strategic sale is sale of equity blocks of a PSU to a single buyer accompanied by the transfer of management to the private investor. Disinvestment commission in 1996 advocated strategic sales. Under strategic sale, the government transfers part of its holdings to a strategic partner who would control the operation and financial policy of the enterprise. The first strategic sale was of Modern Food where government offloaded 74 percent of its equity to Hindustan Lever. RESOLUTION BY GOVERNMENT In pursuance of the policy laid down in the National Common Minimum Program in 2005 the Government of India decided to constitute a separate fund, with the name and style of the National Investment Fund, with the following objectives, structure, investment strategy and administrative arrangements. OBJECTIVE (i) The proceeds from disinvestment of PSUs will be channelized into the National Investment Fund which will be maintained apart from the consolidated fund of India. (ii) The corpus money of National Investment Fund will be of permanent nature. (iii) Fund will be professionally managed to provide good return to Government, without eroding the corpus money. Few public sectors Mutual Fund will be equipped with the management of corpus money of fund. (iv) 75% of the annual income of the fund will go to finance selected social schemes, which will promote education system, health care and employment. Rest 25% of the annual income of the fund will go to meet the capital investment requirement of profitable and revivable PSUs that produce good returns, in order to increase their capital base to finance expansion or diversification. STRUCTURE AND ADMINISTRATIVE ARRANGEMENT The National Investment Fund will be operated by the selected expert fund managers under discretionary mode of portfolio management scheme, under the SEBI guidelines. The entire work of the National Investment Fund will be supervised by CEO of the fund, an officer of the rank of Joint Secretary or Additional Secretary of the Government of India. A part time advisory board of three best persons, with the required expertise to be appointed by the Government, would give advice the CEO on various aspect of the performance of the Fund. INVESTMENT STRATEGY (i) The broad investment strategy is to provide sustainable good returns without eroding the corpus money. (ii) Investment strategy for funds will be designed by the CEO based on the opinion of the advisory board to ensure that government have good relationships in terms of actual investment done by fund manager. (iii) Only major guidelines are to be given under the discretionary mode to the fund managers, within which individual investment will be done independently by fund manager. Detail guidelines specifying investment instruments and limit for investment in such instruments will be separately given in the agreements entered into between fund manager and the CEO of the Fund on account of the Government. (iv) Other operational detail such as allocation of money to selected fund manager, negotiation of management fees and charge to be paid to fund manager, etc. will also be decided by the CEO based on the opinion of the advisory board. (v) Suitable mechanism for regular review and monitor of the performance of fund, coming market trends and forthcoming prospect will be made regularly.